| Volume 58 Number 3 |
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The People’s Lawyer’s Tip of the Day
Most negative information stays on your credit report for seven years, a bankruptcy for ten. The time is not extended, however, when the debt is sold or assigned to a new person such as a debt collector. If a debt collector tries to "re-age" a debt, tell the credit bureau and demand they correct the incorrect information. Click here for more.
Evaluating H&R Block Free Tax Prep Service
As the 2011 tax season gets under way, H&R Block is blasting the airwaves with an offer that may seem too good to be true. According to the advertisement, consumers can visit a local H&R Block office and file taxes for free. So what's the catch? The offer only applies to 1040EZ filers. The 1040EZ form only works for consumers with the most basic tax issues. H&R Block benefits from the offer because only 16% of H&R Block consumers are eligible for the 1040EZ. When consumers try to take advantage of the offer, they may find that they're required to file a more expensive alternative. Is the H&R Block offer right for you? Click here for more.
AIG Repays Federal Government
The Treasury announced last week that the Federal Government and AIG have reached an agreement for AIG to repay Federal Reserve bailout loans. According to the agreement, the Government will own a $68 billion stake in the company. Eventually, the Government will begin selling shares of the stock. AIG originally received a $182 billion bailout. Click here for more.
2010: One Million Homes Repossessed
2010 was a record year for foreclosures. 2.9 million people received foreclosure notices and more than one million people lost their homes, despite foreclosures slowing significantly at the end of the year. By all indications, the record numbers could have been even higher, if not for the robo-signing scandal. Will 2011 be another record year for foreclosures? Click here for more.
Your Money
Planning to purchase a car? Calculate your auto loan payments! Click here for more.
For the Lawyers
Federal standards do not preempt motorcycle helmet class action suit. The Sixth Circuit held that the National Traffic and Motor Vehicle Safety Act of 1966 does not preempt a class action over allegedly defective motorcycle helmets. Click here for more.